So Local Ltd is a social enterprise company limited by shares, set up in October 2011. Its social mission is to support community building in Oxfordshire and all profits go towards this mission. So Local trades on a ‘not-for-personal-profit’ basis and re-invests any surplus back into the community towards social and environmental outcomes.
The Government defines social enterprises as “businesses with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.”
So Local’s social mission is to build local community, with a strong emphasis on environmental sustainability.
Any profit (turnover less overheads) will be used for this social mission by:
- offering free consultancy for local third sector organisations who are doing community building work;
- donating to local community building activities or charities (eg Barracks lane Community Garden); or
- investing in community building activities directly (eg funding a local timebanking initiative).
So Local works to support community building (see project list). It provides professional support eg project management, analysis, project evaluation, surveys, logistics for events. It works for public sector and third sector organisations that have a community building remit. So Local is also initiating innovative projects for local community building such as timebanking in Oxfordshire (see blog on timebanking).
